PWO further accelerates the decarbonization of the Group

EQS-News: PWO AG / Key word(s): Sustainability/ESG
PWO further accelerates the decarbonization of the Group

28.03.2024 / 15:51 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Press Release

PWO further accelerates the decarbonization of the Group

Carlo Lazzarini (CEO): "Climate protection is right at the top of PWO's
agenda. We will now only use green electricity at our Mexican sites starting
from 2024. We have set our course for the future: Within just a few years,
we will have converted the Group almost entirely to green electricity".

Oberkirch, March 28, 2024 - The PWO Group is currently commissioning a
photovoltaic system with an annual output of around 820,000 kWh at its San
Cristobal site in Mexico. This output volume ensures a favorable internal
consumption of the green electricity generated while taking account of
production fluctuations during the course of the year. In addition, we will
use other instruments recognized by the Science Based Targets initiative
(SBTi) - such as green electricity certificates based on the I-REC standard
- to convert our 2 sites in Mexico entirely to green electricity as early as
2024.

The PWO Group's ambitious climate protection targets

We are already implementing the Paris Climate Agreement with our current
SBTi-validated targets. In Scope 1 and 2 greenhouse gas (GHG) emissions are
planned to be reduced by 46.2% in absolute terms by 2030 compared to the
base year 2019. By the end of 2023, we had already exceeded this target and
reduced GHG emissions by 51.0 %. We aim to reduce Scope 3 GHG emissions by
28.0% by 2030.

With the switch to green electricity in Mexico for 2024 and the switch in
China for 2026 that was previously communicated, we will continue to
significantly shrink our CO2 footprint.

Our fast-growing locations in Mexico

Our 2 Mexican locations are among the growth drivers of the PWO Group. With
revenue of EUR 113.3 million, they increased their share of consolidated
revenue to a good 20% in 2023.This trend is set to continue. Thanks to their
high performance in the development and production of innovative product
solutions in climate-friendly lightweight construction at the frontiers of
what is technologically feasible, our Mexican locations have succeeded in
considerably expanding their new business recently. These new series will
gradually go into production over the next few years and contribute
significantly to the growth of the entire PWO Group.


PWO AG

The Executive Board

Contact:
Charlotte Frenzel

Investor Relations & Corporate Communications
T. +49 179 6904 237
M. charlotte.frenzel.ext.ma@pwo-group.com

PWO Group: Pushing boundaries in lightweight metal solutions

2,000 PRODUCT SOLUTIONS | 3,000 EMPLOYEES | 9 LOCATIONS | OVER 100 YEARS OF
EXPERIENCE

We are a global company in the mobility industry that is helping to shape
the environmentally friendly mobility of the future through innovations and
is entirely independent of combustion engines.
With our expertise in climate-friendly lightweight construction, we are
technology leaders and combine economic efficiency with sustainability. We
develop and produce sophisticated metal components and complex subsystems at
the frontiers of what is technologically feasible. We meet the challenges of
our time with innovative and sustainable concepts. Above all, we want to
seize the opportunities it offers.

As a values-based employer with informal structures at a global level, we
thus offer our employees a meaningful environment for realizing their
personal prospects. Transparent and responsible corporate governance is an
integral part of our self-image.

Our corporate strategy is summed up by the slogan PEOPLE. PLANET. PROGRESS.


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28.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        PWO AG
                   Industriestraße 8
                   77704 Oberkirch
                   Germany
   Phone:          +49 (0)7802 84-844
   Fax:            +49 (0)7802 84-789
   E-mail:         ir@pwo-group.com
   Internet:       www.pwo-group.com
   ISIN:           DE0006968001
   WKN:            696800
   Listed:         Regulated Market in Frankfurt (Prime Standard),
                   Stuttgart; Regulated Unofficial Market in Berlin,
                   Dusseldorf, Hamburg, Munich, Tradegate Exchange
   EQS News ID:    1870177

End of News EQS News Service
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1870177 28.03.2024 CET/CEST